Squire Patton Boggs has advised listed Hiap Hoe Limited on the sale of its Four Points by Sheraton Hotel Melbourne Docklands to alternative asset manager, MA Financial Group (ASX:MAF) for A$96 million.
The sale of the 273-room, 4.5-star hotel, situated in Melbourne’s Docklands district, was brokered by Savills Hotels, and is Australia’s first significant hotel deal of 2024.
The Squire Patton Boggs team advising Hiap Hoe was led by partner Mark Palermo and Mitch Reynolds (Hospitality and Real Estate), and included Louise Boyce (Tax), and Blake Di Virgilio and Mary Shaw (Real Estate).
Singapore-listed Hiap Hoe (SGX:5JK) is a premium real estate group with a diversified portfolio of hospitality, retail, commercial and residential assets. The Hiap Hoe group is known for the development of luxury and mid-tier residential properties that are distinct in design and quality, preferred for their excellent locations and investment prospects.
Hiap Hoe opened the Four Points by Sheraton as part of its development in Melbourne Docklands in 2017. MA Financial will rebrand it as a Vibe hotel to be operated by TFE Hotels.